Vocatus

Lessons for Financial Executives from a Software CEO’s Coldplay Kiss-Cam Fiasco

Most fans would love a personal shout-out from the stage when they’re rocking out at a concert, particularly from a global superstar like Chris Martin of Coldplay.

But software executive Andy Byron, CEO of Astronomer, had a decidedly different reaction. When he was seemingly caught lovingly entwined with his head of human resources on a jumbotron, and Martin quipped that the pair’s quick attempt to disentangle and hide (from the camera, the crowd, and, apparently, their spouses) meant they were either “having an affair or just shy,” a private moment in time became a worldwide media sensation and a reputational issue for Byron and his company.

Such is life in the digital age. With cameras everywhere and no barriers to transmitting images, videos, and opinions worldwide through social medias, embarrassing moments can create lasting reputational repercussions. Private moments can quickly become public events. In short, your microphone is always on.

As in all media stories, there are likely a lot of facts we don’t know, context that’s being overlooked, and out-and-out falsehoods about the concert incident. The truth is always an afterthought in a social media-driven controversy. Yet, for business leaders, particularly those in regulated industries such as financial services, this incident should reinforce the commitment to adhering to the highest ethical and professional standards. It should also reinforce the need to deliver an effective apology.

Our CEO Ray Hennessey, author of the book, Beyond Sorry: How to Own Up, Make Good, and Move Forward After a Crisis, recently shared his thoughts on the episode in a column for Advisorpedia.